Elon Musk: AI to Make Money 'Pointless' in Future of Abundance, Proposes Universal High Income

Elon Musk has stirred global conversation once again, declaring on X (formerly Twitter) that saving money for the distant future is 'pointless' given the rapid rise of 'super intelligent abundance' driven by Artificial Intelligence (AI). His latest remarks, made on October 29, 2026, reinforce his long-held vision where AI and advanced robotics will produce goods and services so cheaply and efficiently that traditional money could become irrelevant. This isn't just a casual prediction; Musk has been consistently advocating for a future with 'Universal High Income' (UHI) to counter the potential job losses from AI-driven automation, a concept he discussed in interviews earlier this year, including one with The Economist in July 2026. While AI is already boosting productivity and reshaping industries, leading to some job cuts in the tech sector, experts debate whether this will truly lead to money losing its value. Critics point out that scarcity of certain resources like land or unique human skills will likely persist, meaning some form of value exchange will always be needed. As AI continues to advance, with agentic AI and multi-agent systems now becoming mainstream, the debate around how society will adapt and sustain itself intensifies. Musk predicts AI could surpass collective human intelligence by 2030-2031, pushing the world closer to his 'age of abundance' scenario. The coming years will reveal how governments and societies respond to these dramatic shifts, particularly concerning the implementation of income support systems and the redefinition of 'work' in an increasingly automated world.